Saigon Nutri-Food

Jul 3, 2018

Illustration/Photo: Internet Archive July 3, 2018 South Korean processed meat company Jinju Ham Co has acquired 25 per cent stake in Saigon Nutri-food JSC while Sabeco’s member Saigon Hanoi Beer JSC will trade on UPCoM on July 4. South Korea’s Jinju Ham buys 25% stake in Saigon Nutri-food South Korea processed meat company Jinju Ham Co has acquired 25 per cent stake in Saigon Nutri-food JSC, a wholly-owned subsidiary of Vietnam’s FMCG major Masan Consumer Corporation, for an undisclosed sum. The entity will be renamed “Masan Jinju” and expected to launch new products in the second haft of this year, according to an announcement  on July 2. Established in 1963, Jinju Ham is the oldest sausage producer in Korea with market leading positions in the sausage and home meal replacement segments. Park Jungjin, CEO of Jinju Ham, said that Vietnam’s processed meat market has the same dynamics as Korea and China 20 years ago. This segment is in its early phase of development, contributing less than 1 per cent to the overall meat market. Masan Consumer Corporation, a subsidiary of Masan Group Corporation, is one of Vietnam’s largest branded food and beverage companies. Last year, KKR completed its $250 million investment in Masan Group and in its branded meat platform, Masan Nutri-Science. This is KKR’s second investment in Masan, having previously invested $359 million in Masan Consumer. Sabeco’s member Saigon Hanoi Beer JSC to trade on UPCoM  Saigon Hanoi Beer JSC, a member of  Vietnam’s biggest brewer  Saigon Beer Alcohol and Beverage Corp (Sabeco), will make a listing debut on UPCoM on July 4, according to Hanoi Stock Exchange. The company, which has a capacity of 90 million litres of beer per year, has been approved to trade 18 million shares on UPCoM under stock code BSH with the reference price of VND32,000 ($1.4) apiece. Established in 2007, Saigon Hanoi Beer  JSC, a member of Sabeco, has an initial charter capital of VND126 billion ($5.54 million). It is currently owned 52.11 per cent by Sabeco and three other shareholders including Refrigeration Electrical Engineering Bach Khoa Co., (11.67%); Thuan Thanh Investment JSC (10.37%) and Sai Gon – Binh Tay Beer JSC (5%). Dragon Capital had in March purchased 15.3 million shares of Sabeco from Singapore-based Nogard Pte. Ltd, according to Vietnam Securities Depository (VSD). The transaction value was not disclosed. However, based on Sabeco’s share price of VND214,000 ($9.4) per share on March 15, the transaction’s value is estimated at VND3.27 trillion ($143.8 million). Among seven funds, VEIL received the largest number of Sabeco shares with over 8 million shares. Also Read: